IEA Oil Market Report
Global oil demand growth slowed sharply in 4Q18 to 0.95 mb/d due to lower OECD demand, which declined by 0.3 mb/d year-on-year. Large falls were seen in Europe and Asia and there was slower Continue Reading
Saudi Arabia’s Delicate Baku Balancing Act
OPEC (plus Russia) is meeting in Baku this weekend, and the Saudis are playing a delicate balancing act—not only disappointed in Trump’s less aggressive tactics against Iran, but also disappointed Continue Reading
OPEC February Production Data
The following OPEC charts were created with data from the OPEC Monthly Oil Market Report . All OPEC charts are through February 2019 and is in thousand barrels per day. Continue Reading
OPEC Threatens To Kill U.S. Shale
The Organization of Petroleum Exporting Countries will once again become a nemesis for U.S. shale if the U.S. Congress passes a bill dubbed NOPEC, or No Oil Producing and Exporting Continue Reading
OPEC+ Production Cuts To Stay In Place Until June
OPEC will continue producing less crude oil than it could until at least June as April, when OPEC+ meets, would be too early to end the cuts, Saudi Arabia’s Energy Continue Reading
Exclusive: Saudi’s Falih – U.S., China driving oil demand; no April OPEC policy change
Saudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would lead healthy global demand for oil this year but that it would be too early to Continue Reading
CERAWeek: With sanctions, Iran, Venezuelan oil output to fall by 1.76 mil b/d in 2019, EIA forecasts
Crude oil production capacity in Iran and Venezuela will fall by a combined 1.76 million b/d if US sanctions on these countries remain in place, the International Energy Agency said Continue Reading
CERAWeek: Spotlight on sanctions, OPEC oil cuts, record US output, and investment in Houston
The global oil market will be watching Houston this week for signals out of the CERAWeek by IHS Markit conference on the path forward on US sanctions on PDVSA, the Continue Reading
Nigeria, Iraq Exceed Cuts As OPEC Achieves 79% Compliance
Increased production by Nigeria and Iraq above the agreed quota by members of the Organisation of the Petroleum Exporting Countries (OPEC), in February, saw compliance level hitting 79 per cent Continue Reading
Goldman: OPEC To Clear Supply Glut By April
Goldman Sachs expects OPEC to succeed in clearing what it has deemed excessive oil supply by April, when the latest production cut deal will be reviewed at a meeting of Continue Reading